SK Hynix plans U.S. IPO to raise up to $28 billion
South Korean memory chipmaker SK Hynix announced plans to sell nearly 17.8 million shares in a U.S. IPO, potentially raising around $28 billion based on its closing price in Seoul. The company will offer American depositary receipts (ADRs), each representing a tenth of a common share, allowing U.S. investors to buy the stock without trading on an overseas exchange.
Entities
Related
SK Hynix raises $26.5B in largest U.S. IPO by non-American company, debuts on Nasdaq
SK Hynix, a South Korean memory chip giant, raised $26.5 billion in its U.S. market debut, the largest-ever IPO by a non-American company, surpassing Alibaba's $25 billion in 2014. The company sold 177.9 million ADRs at $149 each, trading on Nasdaq under ticker SKHYV. The deal underscores the AI chip boom's impact on Wall Street.
DeepSeek plans to develop its own AI chips to bypass US export controls
DeepSeek, the Chinese startup behind competitive LLMs, is planning to enter the silicon business by developing its own AI chips, according to Reuters. The company has been working on the move for about a year, meeting with potential hardware partners and hiring engineers for the project. This move is seen as a response to US export controls that restrict Chinese access to advanced semiconductors.
Indian government offers free H100 GPUs to students, startups, MSMEs, and researchers
A Reddit user reports that the Government of India is providing free NVIDIA H100 GPUs to students, startups, MSMEs, and researchers. No minimum number of GPUs is required, and applicants can receive 5-10 GPUs after proper verification within 3-7 working days.
Apple sues partner over AI partnership dispute, chip stocks wobble on spending debate
A four-year AI partnership has ended in a lawsuit, with Apple taking legal action against an unnamed partner. The case has contributed to volatility in chip stocks as the industry debates AI infrastructure spending. The situation underscores growing tensions in AI collaborations and market uncertainty.
Lidl owner plans to build EU-funded AI gigafactory
The owner of supermarket chain Lidl has announced plans to build one of several AI 'gigafactories' backed by the European Union. The facility would be part of a broader EU initiative to boost sovereign AI infrastructure. The news was reported by Cybernews on July 12, 2026.